Tapestry (NYSE:TPR) Price Target Raised to $100.00 at Barclays

Tapestry (NYSE:TPR) had its price objective hoisted by Barclays from $87.00 to $100.00 in a research report released on Friday,Benzinga reports. Barclays currently has an overweight rating on the luxury accessories retailer’s stock.

Other analysts also recently issued research reports about the company. JPMorgan Chase & Co. lifted their target price on Tapestry from $66.00 to $75.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. The Goldman Sachs Group boosted their price target on Tapestry from $72.00 to $98.00 and gave the stock a “buy” rating in a research report on Friday. StockNews.com downgraded Tapestry from a “buy” rating to a “hold” rating in a report on Monday, October 28th. Raymond James restated an “outperform” rating and set a $88.00 target price (up from $79.00) on shares of Tapestry in a report on Friday. Finally, Evercore ISI increased their price target on shares of Tapestry from $68.00 to $74.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $73.17.

Tapestry Trading Down 2.3 %

NYSE:TPR opened at $80.28 on Friday. The company has a market cap of $18.71 billion, a P/E ratio of 23.20, a price-to-earnings-growth ratio of 2.07 and a beta of 1.58. Tapestry has a twelve month low of $35.23 and a twelve month high of $87.87. The business has a 50 day moving average price of $68.08 and a two-hundred day moving average price of $53.27. The company has a quick ratio of 4.38, a current ratio of 4.93 and a debt-to-equity ratio of 2.35.

Tapestry (NYSE:TPR) last announced its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS for the quarter, topping the consensus estimate of $1.70 by $0.30. Tapestry had a net margin of 12.12% and a return on equity of 36.26%. During the same quarter in the previous year, the business earned $1.63 earnings per share. As a group, analysts expect that Tapestry will post 4.63 EPS for the current fiscal year.

Tapestry Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Thursday, March 6th will be given a $0.35 dividend. The ex-dividend date is Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.74%. Tapestry’s payout ratio is presently 40.46%.

Insider Activity at Tapestry

In other Tapestry news, VP Manesh Dadlani sold 8,872 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $57.96, for a total value of $514,221.12. Following the completion of the sale, the vice president now owns 35,003 shares of the company’s stock, valued at $2,028,773.88. The trade was a 20.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.18% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Marshall Wace LLP bought a new position in Tapestry during the 2nd quarter worth $311,000. Cetera Investment Advisers grew its holdings in shares of Tapestry by 4.7% during the 2nd quarter. Cetera Investment Advisers now owns 55,669 shares of the luxury accessories retailer’s stock worth $2,382,000 after purchasing an additional 2,513 shares in the last quarter. Sanctuary Advisors LLC bought a new position in shares of Tapestry in the second quarter worth $1,025,000. Czech National Bank raised its stake in Tapestry by 7.1% in the third quarter. Czech National Bank now owns 46,898 shares of the luxury accessories retailer’s stock valued at $2,203,000 after purchasing an additional 3,113 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in Tapestry by 4.8% during the third quarter. GAMMA Investing LLC now owns 6,095 shares of the luxury accessories retailer’s stock worth $286,000 after purchasing an additional 280 shares during the period. 90.77% of the stock is owned by institutional investors.

Tapestry Company Profile

Tapestry, Inc provides luxury accessories and branded lifestyle products in the United States, Japan, Greater China, and internationally. The company operates in three segments: Coach, Kate Spade, and Stuart Weitzman. It offers women’s handbags; and women’s accessories, such as small leather goods which includes mini and micro handbags, money pieces, wristlets, pouches, and cosmetic cases, as well as novelty accessories including address books, time management and travel accessories, sketchbooks, and portfolios; and belts, key rings, and charms.